Southwest Airlines Co. (LUV)

Southwest Airlines Co. Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	3,791	3,231	7,509	9,288	9,492	12,480
Short-Term Investments	-	-	1,216	2,186	2,800	3,024
Cash & Short-Term Investments	3,791	3,231	8,725	11,474	12,292	15,504
Cash Growth	-1.25%	-62.97%	-23.96%	-6.65%	-20.72%	16.27%
Accounts Receivable	1,218	1,149	1,110	1,154	1,040	1,357
Inventory	917	775	800	807	790	537
Other Current Assets	556	490	639	520	686	638
Total Current Assets	6,482	5,645	11,274	13,955	14,808	18,036
Net Property, Plant & Equipment	21,595	21,334	20,425	20,598	18,736	16,432
Goodwill	970	970	970	970	970	970
Other Long-Term Assets	1,075	1,112	1,081	964	855	882
Total Assets	30,122	29,061	33,750	36,487	35,369	36,320

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	2,072	1,991	1,818	1,862	2,004	1,282
Accrued Expenses	2,247	2,349	2,206	3,606	2,043	1,624
Current Portion of Long-Term Debt	2,156	324	1,630	29	42	453
Current Portion of Leases	283	312	328	208	225	239
Unearned Revenue	6,510	5,945	6,294	6,551	6,064	5,566
Total Current Liabilities	13,268	10,921	12,276	12,256	10,378	9,164
Long-Term Debt	3,790	4,577	5,069	7,978	8,046	10,274
Long-Term Leases	660	768	1,031	985	1,118	1,315
Other Long-Term Liabilities	5,322	4,814	5,024	4,753	5,140	5,153
Total Long-Term Liabilities	9,772	10,159	11,124	13,716	14,304	16,742
Total Liabilities	23,040	21,080	23,400	25,972	24,682	25,906

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	888	888	888	888	888	888
Treasury Stock	-14,794	-13,593	-11,044	-10,823	-10,843	-10,860
Additional Paid-in Capital	4,294	4,322	4,199	4,153	4,037	4,224
Accumulated Other Comprehensive Income	22	-24	-25	-	344	388
Retained Earnings	16,672	16,388	16,332	16,297	16,261	15,774
Shareholders' Equity	7,082	7,981	10,350	10,515	10,687	10,414
Total Liabilities & Equity	30,122	29,061	33,750	36,487	35,369	36,320

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	6,889	5,981	8,058	9,200	9,431	12,281
Net Cash (Debt)	-3,098	-2,750	667	2,274	2,861	3,223
Net Cash Growth	-	-	-70.67%	-20.52%	-11.23%	183.97%
Net Cash Per Share	-6.07	-4.93	1.04	3.55	4.46	5.29
Book Value	7,082	7,981	10,350	10,515	10,687	10,414
Book Value Per Share	13.87	14.30	16.10	16.43	16.65	17.10
Tangible Book Value	6,112	7,011	9,380	9,545	9,717	9,444
Tangible Book Value Per Share	11.97	12.56	14.59	14.91	15.14	15.51

SEC Filings: 10-K · 10-Q

Data Source: Fiscal.ai Last updated: Jul 23, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 27, 2026

Data Sources Report a data error